Day-ahead baseload power lost 3.4% to average £39.7/MWh. The month-ahead contract rose 2.3% to £39.9/MWh. Most seasonal baseload power contracts moved higher and on average increased by 1.8%. Winter 17 power climbed 1.7% to £46.2/MWh. Summer 18 power gained 2.1% to £39.5/MWh.

Prices started the month above $50.0/bl, but decreased steadily, amid concerns over increasing US crude inventories, rising output from Libya, Nigeria and the US and rising tensions in the Middle East after Saudi Arabia and other Arab states cut diplomatic ties with Qatar. On 22 June prices fell to $45.2/bl, the lowest price since 14 November 2016. Reports of high OPEC compliance with production cuts, tropical storm Cindy disrupting US oil operations in the Gulf of Mexico and a weakening US dollar provided some support to prices towards the end of the month.

To access the full report, please provide us with
a little information